Forex trading live calls and set ups

I am thinking of closing this thread (Beachtrader voted a No)

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Flashy, you are highlighting something I have experienced over the years with slippage. Most people tell you to never enter market orders especially in forex as slippage can be huge...well, if you are trading right into the news then yes, otherwise I have found slippage in forex compared to market order slippage on stocks to be relatively small. There are exceptions on individual trades of course but I can lose more money in slippage in 2 months of trading stocks than in a whole year of trading forex. This is just my experience while daytrading/scalping.

Peter
 
DDI said:
cheers Flashy...If only my performance was always like this!
Click to expand...

youve had a great start to live calls,but take what I and others will tell you. Trade to your own rules and methods. Dont start trading to the thread. Its happened to me on several occasions particularly when ive called a few winners on the trot, before I know it im calling trades out of no where that I would never normally take. We expect losers, we all call lots of them:mad:. I hope you maintain your discipline and that calling live improves your discipline and makes you a **** load of cash
 
wackypete2 said:
Flashy, you are highlighting something I have experienced over the years with slippage. Most people tell you to never enter market orders especially in forex as slippage can be huge...well, if you are trading right into the news then yes, otherwise I have found slippage in forex compared to market order slippage on stocks to be relatively small. There are exceptions on individual trades of course but I can lose more money in slippage in 2 months of trading stocks than in a whole year of trading forex. This is just my experience while daytrading/scalping.

Peter
Click to expand...

I agree peter, the normal slippage on market orders for me is then half a pip and i get positive slippage on limit orders as well with fxcm, however I have had slippage on a stop that was left in the market during the last nfp of nearly 100 pips simply because there was no trades before that, dropped in a blink of an eye, even on the tick chart.

Flashy,

Ofcourse they will tell you that, now ask yourself in a situation like the one above how do you prove that they should have filled your stop earlier.

As for swing traders the stops are usually much wider and the leverage used much lower so its less of an issue.

The whole purpose of intra day trading is to reduce risk (stop size) so that we can increase the stake, other wise what's the point of sitting at the screen for the better part of the day?
 
Vaco said:
I agree peter, the normal slippage on market orders for me is then half a pip and i get positive slippage on limit orders as well with fxcm, however I have had slippage on a stop that was left in the market during the last nfp of nearly 100 pips simply because there was no trades before that, dropped in a blink of an eye, even on the tick chart.

Flashy,

Ofcourse they will tell you that, now ask yourself in a situation like the one above how do you prove that they should have filled your stop earlier.

As for swing traders the stops are usually much wider and the leverage used much lower so its less of an issue.

The whole purpose of intra day trading is to reduce risk (stop size) so that we can increase the stake, other wise what's the point of sitting at the screen for the better part of the day?
Click to expand...

you can prove it via bloomberg or rueters if the price was printed
 
frontrunningpaper said:
Lord Flasheart, what is the R:R of your old mr system please, from results backtest?
Click to expand...

on nine months tested data the r/r is 1:1 for 50% of stake and 1:2 for 50%. That is generalised,but i like to get more. The figures dont look good as yet but heres hoping

40 trades for - 88 pips on all called trades
if id taken every trade according to the precise rules it would be + 254 pips

If your new and looking for methodologies to look at, id look at the other traders on the thread until my method is proven. Welcome and good luck
 
nice to see another caller during the asian session. For the longest time I was the only one!

Peter
 
hehe...i am about to ge to bed....not much happening....most likely my stop is gonna be hit..a few points away now
 
yeah, sucks tonight. eurusd been in a 9 pip range for last 45 minutes.

Catch you tomorrow!

Peter
 
exit 1.3162 +10
-1 for this session, but still up a few from my earlier trade today.

See everyone tomorrow!

Peter
 
entered short AUD USD at 0.99804 20 pip SL 20 pip TP. going to bed hopefully will wake to 20 pips in the bank.
 
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